As we look forward to the year ahead in the capital markets, we can all acknowledge that 2011 provided a number of challenges and opportunities for market participants, from the most sophisticated institutional investors to the individual investor saving for his or her retirement. Individuals, in particular, certainly seem a little weary and decidedly cautious after going through a number of ups and downs so quickly on the heels of the global financial crisis of 2008.

While uncertainty is a key theme in the markets, Toronto CFA Society remained focused on our two key priorities: quality programming and member outreach.

During these times of market volatility, we delivered programming that offered our members valuable insights into specific market opportunities. Our Annual Forecast Dinner in October 2011 was a sell-out, with over 1,500 individuals attending to hear three leading speakers on the global capital markets’ stage: Stephen Roach, James Grant, and Abby Joseph Cohen. While all speakers, including Abby Cohen, were decidedly cautious about the months ahead — and particularly about the ability of the Eurozone to achieve a near-term recovery, equities across the board seemed like the asset class of choice based on their undervalued position to long-term averages. We also offered our members “just-in-time” programming through two mini-conferences on gold and silver along with an increasing number of courses through our Continuing Education series. In January, we will once again hold our Professional Development Day, which should prove to be a very popular event and one where our members can also gain valuable knowledge on leadership and other management skills.

We also continue to advocate on our members’ behalf through our outreach efforts. In addition to our on-going dialogue with top employers in Toronto, we are also expanding our reach through associations with other organizations, such as Women in Capital Markets (we are a supporting sponsor of their Leadership and Rising Star Awards) and also the Toronto Financial Services Alliance (our members sit on many of its committees). Both provide valuable points of leverage for Toronto CFA Society as we expand our brand leverage.

As always, we value your feedback. If you have any suggestions or ideas to assist us in furthering our key priorities of programming and outreach efforts, please do not hesitate to reach out to our Management Office, Board of Directors, or myself.

All the very best over the holiday season to each of you and your families.